Trivariate Research: S&P 500 could top 8,000 on tech earnings; Micron seen at $1,500-$1,600

According to CNBC, Trivariate Research founder Adam Parker said the S&P 500 could surpass 8,000 based on projected earnings power from Micron and other technology stocks, citing a consensus 2027 earnings-per-share outlook of $401 and a 20-times forward P/E multiple that implies 8,020. Parker said a 22-times multiple using Trivariate’s EPS estimate of about $386 would put the index at 8,492, and he expects technology to drive the gains, with the sector projected to account for about 59% of earnings expansion over the next two years. Parker also said Micron’s shares could rise into a range of $1,500 to $1,600 per share, adding that earnings could top out between mid 2028 and late 2029 at levels higher than Wall Street expects and that structural AI demand could extend Micron’s cycle; CNBC noted Micron shares are up almost 220% in 2026 and more than 650% over the last 12 months, while LSEG data shows the average analyst rating is buy with a price target implying about 60% upside over the next year.